Update on Harley Street and Sinophi

RNS Number : 1149Q

Advanced Oncotherapy PLC

24 November 2016

 

ADVANCED ONCOTHERAPY PLC

("Advanced Oncotherapy" or the "Company")

Update on Harley Street and Sinophi

Advanced Oncotherapy (AIM: AVO), the developer of next-generation proton therapy systems for cancer treatment, announces that the building work for the Harley Street site is expected to start in early January with completion of the building works expected by March 2018. ‎This follows the successful planning permission granted by Westminster Council on 19 October 2016. The Harley Street Proton Treatment Facility will be jointly operated by Circle Health and the Company.

Separately, the Company has been informed by Sinophi Healthcare Limited ("Sinophi") that Sinophi's customers, will not now be proceeding with the installation of AVO's LIGHT technology in the hospitals of China-Japan Union Hospital of Jilin University in Changchun and First People's Hospital of Huai'An. Advanced Oncotherapy's orders for the two machines from Sinophi remain in place and as per this agreement Sinophi and AVO are assessing other sites in the same cities as well as pursuing other framework agreements in China. 

Advanced Oncotherapy Plc	www.avoplc.com
Dr Michael Sinclair, Executive Chairman Nicolas Serandour, CEO	Tel: [phone]
Stockdale Securities (Nomad & Joint Broker)	Tel: [phone]
Antonio Bossi / David Coaten
Stifel Nicolaus Europe (Joint Broker)	Tel: [phone]
Jonathan Senior / Ben Maddison
Walbrook PR (Financial PR & IR)	Tel: [phone] or [e-mail]
Paul McManus / Anna Dunphy	Mob: [phone] / Mob: [phone]

About Advanced Oncotherapy Plc www.avoplc.com

Advanced Oncotherapy is a provider of particle therapy with protons that harnesses the best in modern technology. Advanced Oncotherapy's team "ADAM", based in Geneva, focuses on the development of a proprietary proton accelerator called Linac Image Guided Hadron Technology (LIGHT). LIGHT accelerates protons to the energy levels achieved in legacy machines but in a unit that is a quarter of the size and between a quarter and a fifth of the cost. This compact configuration delivers proton beams in a way that facilitates greater precision and electronic control which is not achievable with older technologies.

Advanced Oncotherapy will offer healthcare providers affordable systems that will enable them to treat cancer with an innovative technology as well as better health outcomes and lower treatment related side effects.

Advanced Oncotherapy continually monitors the market for any emerging improvements in delivering proton therapy and actively seeks working relationships with providers of these innovative technologies. Through these relationships, the Company will remain the prime provider of an innovative and cost-effective system for particle therapy with protons.

 

END

 

 

MSCQZLFLQFFLFBX